As a Canadian, most of what you say regarding BC and Ontario is true due to Vancouver and Toronto being the major cities in Canada, but your immigration numbers and link to housing shortage is a bit of political rhetoric.

Homes prices are still at record highs, some decreases-depending on the city, however, high density apartments are skyrocketing.

It's outside Scottsdale city limits (Maricopa County jurisdiction) so it is not subject to Scottsdale's restrictions.It does, however, have a shared well agreement with one other parcel (as almost all in this area seem to).

Even as 1 BR, the lowest FMR I can find in the City is $830.

Even in New York, there are deals to be found that will satisfy the 1% rule, but that is the part that takes work.

Do you have a city/market in mind for these investments? 

Some areas of cities have older stock.

Unless they are housing a squirrel, it will take you years to get someones attention and evict in the city.

Quote from @Laura Morlock: I have an opportunity to purchase a very beautiful and unique property - striking century manor house directly on the river, 1.5 acres, huge detached garage/workshop, in a quaint little town 15 mins to two major cities and a little under an hour west of Toronto.I know the property inside and out, it's turnkey, and I would love to own it, but I don't know what to do with it.

It does not matter the size of the city.